Gurgaon-based Food delivery startup and restaurant aggregator “Zomato” has announced the acquisition of Uber Eats business in India. Uber Eats is an Uber Technologies Inc’s food delivery business in India. The acquisition was done in an all-stock deal. The deals provides Uber with the 9.99% ownership in Zomato after the acquisition. The deal is estimated to be pegged at $300-350 million. Uber Eats, having about 26,000 restaurant partners entered the food delivery business in 2017 in India.
Important takeaways for all competitive exams:
- CEO of Zomato: Deepinder Goyal.
- CEO of Uber Technologies Inc: Dara Khosrowshahi.